XDC Network has several advantages over Ethereum, such as nearly no transaction fees, 2000 TPS, and utilizes less energy than all other networks available. To provide fast block finality and compatibility with ISO 20022 financial communications standards, eXchange inFinite (XinFin) built and introduced the XDC Network.
Many blossoming initiatives linked to the XDC (XinFin) Network will be able to reach the market without delay once the DEX support for XRC20 tokens issued on the XDC Network is completed.
Let’s look at the newest twins, DEX on XDC Network.
Globiance DEX
Globiance DEX, the first automated market maker (AMM) on the XDC blockchain, was launched on December 8th, 2021.
For XinFin’s XRC20 Tokens, GlobianceDex provides Swap, an opportunity to earn tokens and unleash the crypto trading features of DEX developed on XinFin Network. The Globiance community may add additional tokens to the Globiance DEX default token list.
A user may trade any token while reviewing it, regardless of whether it is featured in the default token list. To trade, they just put the custom token address into the token list and click “Add”. When a token is examined and approved, it is added to the default token list, and its pools and trading are visible to anyone.
The GlobianceDEX token list now includes
- XDC-the native coin of XDC Network
- WXDC- wrapped XDC
- GBEX- Native token of Globiance
- USDG- Stable coin for USD on globiance as base pair.
- SRX – StorX Utility Tokens
XSwap
XSwap is a decentralized open-source exchange for XRC20 tokens based on the XDC Network. This is similar to how Ethereum’s ETH is used in the Uniswap AMM.
In order to enable crypto transactions, XinFin XDC Network uses an AMM system that relies on user-generated liquidity pools. Liquidity providers may use their XRC-20 tokens in multiple pools and get LP rewards.
This makes any unskilled crypto fan a leader in farming, the easiest passive income method. XSWAP has a built-in staking module. The staking module allows users to pump liquidity into a single token, which is not possible with liquidity farming.
A developer-friendly blockchain with plenty of documentation and Github resources, unlike liquidity farming. Tatum’s API streamlines complex blockchain activities into simple API calls, speeding up the developer experience.
It also includes modules for token contract generation, airdrop launch, and multi-purpose crypto service platforms allowing XDC Network users to construct smart contracts without coding knowledge. All these factors indicate that the XDC ecosystem is growing rapidly. At the time of writing the XDC coin is trading at 0.071 USD on CMC maintaining its position in the top 100.
Image: Pixabay